The aircraft gearbox market size is expected to grow from USD 3.3 billion in 2019 to USD 4.3 billion by 2025, at a CAGR of 4.8%
NEW YORK, Sept. 17, 2019 /PRNewswire/ --
Increasing aircraft deliveries across the globe are expected to drive market growth
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The aircraft gearbox market size is expected to grow from USD 3.3 billion in 2019 to USD 4.3 billion by 2025, at a CAGR of 4.8% during the forecast period. The major factors driving the aircraft gearbox market is the increasing demand for new aircraft and lightweight aircraft components.
The accessory gearbox segment is projected to lead the market during the forecast period
Based on gearbox type, the aircraft gearbox market has been segmented into the accessory gearbox, reduction gearbox, actuation gearbox, tail rotor gearbox, auxiliary power unit gearbox, and others. The demand for accessory gearboxes is expected to increase in the coming years, due to the growing demand for commercial and military aircraft to carry passengers and cargo or for tactical purposes
Civil aircraft is projected to lead the aircraft gearbox market during the forecast period
Based on aircraft type, the civil aircraft is expected to be the leading segment during the forecast period.The civil aircraft segment has witnessed significant growth in the past few years, due to the increasing air traffic and rise in the disposable income of the middle-class population across the globe.
Increasing demand for new aircraft around the world is also fueling the growth of the civil aircraft segment in aircraft gearbox market.
The Asia Pacific aircraft gearbox market is projected to grow at the highest CAGR during the forecast period
The aircraft gearbox market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period.The military aviation industry in this region is focusing on the localisation of aircraft manufacture and providing alternatives to existing aircraft models.
Airlines are increasingly demanding lightweight and fuel-efficient engines to reduce aircraft weight and improve fuel efficiency.This has led to the development of fuel-efficient engines, where gearboxes play a significant role.
The increasing deliveries and orders of new commercial aircraft in the region have been one of the key factors driving the aircraft gearbox market in the region.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation & technology directors, and executives from various key organisations operating in the aircraft gearbox marketplace.
•?By Company Type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
•?By Designation: C-level Executives: 35%, Directors: 25%, and Others 40%
•?By Region: North America: 45%, Europe: 20%, Asia Pacific: 30%, and RoW: 5%
The aircraft gearbox market comprises major solution providers, such as Liebherr (Switzerland), Safran (France), United Technologies Corporation (US), SKF (Sweden), GE Aviation (US) and Triumph Group (US). The study includes an in-depth competitive analysis of these key players in the aircraft gearbox market, with their company profiles, recent developments, and key market strategies.
Research Coverage:
The study covers the aircraft gearbox market and aims at estimating the market size and growth potential across different segments, such as end-user, component, gearbox type, aircraft type, application and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will provide market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall aircraft gearbox market and its subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, challenges, and opportunities.
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